Rowan Legal

The field of banking and finance is one of the fastest growing specializations at ROWAN LEGAL, proven by, among other things, the fact that we have recently participated in two projects that were completely unique in the context of the Czech Republic in terms of their nature and significance – the so-called National Development Fund and the Banking Identity Project.

We are sought-after partners both for traditional issues (preparation of credit documentation, internal regulations, representation before the CNB, etc.) and in connection with non-traditional / innovative projects (IT outsourcing projects, product digitization, PSD2 services, etc.) requiring deep knowledge, sectoral regulation, and also other legal branches (e.g. IT law, personal data protection, competition law).

Clients also appreciate that our experts have had practical experience in financial institutions, so they are able to reflect the impact of our clients’ internal processes when providing legal advice.

How we can help:

  • Legal analysis of products in terms of the impact of sectoral regulation.
  • Support in obtaining a CNB license (incl. preparation of internal documentation) and subsequent compliance with regulatory requirements.
  • Support in the implementation of AML requirements and in the preparation of internal AML documentation.
  • Outsourcing of significant activities, incl. outsourcing in the form of cloud computing.
  • Banking identity and access to basic registers pursuant to Act No. 49/2020 Coll.
  • Digitization of products / services and internal processes (implementation of electronic identification, incl. banking identity, electronic signatures, etc.).
  • Legal services related to loan financing (drafting and revision of loan agreements, incl. collateral documentation, support in negotiating credit documentation, etc.).
  • Legal opinions on the enforceability of contractual documentation (legal opinions).
  • Monitoring of legislative and other relevant regulatory changes.

Selected references:

Comprehensive legal advice in connection with the National Development Fund project – i.e. a unique project of cooperation between the state and the private sector, resulting in an investment fund with the appropriate permit under ZISIF, and which could receive up to CZK 35 billion from private investors for investment in investment projects of strategic importance for the development of the Czech Republic.

In connection with the preparation and negotiation of legislation on banking identity, we consulted with the client on cooperation on all legal matters related to this issue. We also provided support to the client association on legislative and legal issues related to electronic identification. At the same time, we provided comprehensive legal support to Bankovní identita, a.s. – a joint venture between Česká spořitelna, Komerční banka and Československá obchodní banka, which connects banks with those interested in their electronic identification services. For this JV, for example, we prepared contractual documentation for the participating banks and those interested in their services.

Legal advice on compliance with and renegotiation of strong contractual relationships between banks involved in the exchange of relevant obligor data and the CBCB, including with CRIF, Europe’s leading provider of consumer financial data exchange solutions. 

We assisted on a GDPR implementation project, within which we organized comprehensive training for the client’s employees regarding the protection of personal data and other related aspects. Furthermore, within the implementation phase of the GDPR project, we prepared a comprehensive set of documentation for clients and HR customers, and we also developed internal documentation.

Extensive cooperation with the client in connection with the issue of possible liability of the client for damage caused to a third party as a result of the alleged violation of legal regulations in the field of AML by the client. Another important project for this client was consulting in connection with its process of informing clients about changes in the terms of the framework contract under PSD2 and the current development of the decision-making practice of the European Court of Justice.